KAR Auction Services Earnings: Here’s Why Investors are Not Happy Now
KAR Auction Services, Inc. (NYSE:KAR) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 1.30%.
KAR Auction Services, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 0% to $0.31 in the quarter versus EPS of $0.31 in the year-earlier quarter.
Revenue: Rose 10% to $557.6 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: KAR Auction Services, Inc. reported adjusted EPS income of $0.31 per share. By that measure, the company missed the mean analyst estimate of $0.32. It beat the average revenue estimate of $541.43 million.
Quoting Management: There was no comment from the management.
Key Stats (on next page)…